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MT4 Order Plugin: Trade by lines with risk based lot sizing
- #901
- May 6, 2015 10:05am May 6, 2015 10:05am
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
Great, great script, Sangmane, thx! 
I think there is a little error (maybe??) in the way it is calculating the risk based option.
When you select risk based, wouldn't be normal that the percent of risk to be calculated based on the current balance account and not equity??
I've the script installed now in my platform (latest update) and the risk is calculated based on the current equity which can be up or down (in relation with the balance account) based on open positions which can be in profit or loss.
If you don't have any positions open then Balance account = Equity and everything is fine when you open a new position.
But if you have open positions and let's say those positions are in profit, your equity is greater then the balance account but those positions are not close yet, so the profit is not in your account yet.
Anyway great script,
I think there is a little error (maybe??) in the way it is calculating the risk based option.
When you select risk based, wouldn't be normal that the percent of risk to be calculated based on the current balance account and not equity??
I've the script installed now in my platform (latest update) and the risk is calculated based on the current equity which can be up or down (in relation with the balance account) based on open positions which can be in profit or loss.
If you don't have any positions open then Balance account = Equity and everything is fine when you open a new position.
But if you have open positions and let's say those positions are in profit, your equity is greater then the balance account but those positions are not close yet, so the profit is not in your account yet.
Anyway great script,
- #906
- May 7, 2015 5:10am May 7, 2015 5:10am
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
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- #908
- May 7, 2015 9:59am May 7, 2015 9:59am
Great, great script, Sangmane, thx!
Welcome to FF
Re using balance or equity in risk calculation, I think there is no hard rule as to which one should be used.
Some traders prefer equity to balance and vice versa.
- #909
- May 7, 2015 12:57pm May 7, 2015 12:57pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
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- #911
- May 7, 2015 1:11pm May 7, 2015 1:11pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
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- #913
- May 7, 2015 2:30pm May 7, 2015 2:30pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
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- #915
- May 7, 2015 2:56pm May 7, 2015 2:56pm
Thank you all . especially Sangmane for the great creation and for all others who contributed by beta testing the scripts and indicator. I figured out my problem which was I was using parts of different updates. Getting ride of all the old files and staring with only the latest updates seems to have done the trick. What a time saver. Thanks again
- #918
- May 7, 2015 5:29pm May 7, 2015 5:29pm
- Joined Jul 2011 | Status: Gold Again | 10,602 Posts
To SANGMANE, so here it is mate, would you be kind to create a script for me where one can select Lot size, SL, TP and execute order without confirmation with prefilled SL and TP, see attached image...it would be much appreciated if you could assist. Thanks In Advance bro, Cheers 4XLearner. {image}
Use MT4 1-click trading
Simple as what you asked for
It takes a lot for me to IGNORE you, but you can try.
- #920
- May 7, 2015 9:56pm May 7, 2015 9:56pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
Sang, you are da man
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